Trump Gloats over Dow 22,000, but Stock Market Is Now in Bubble Territory as Perils Multiply

Italian Banking System Almost Blew Up Last Week, and U.S. Shares Have Advanced on Very Narrow Front; Congress Must Pass Debt Ceiling Increase and 2018 Budget in 14 Legislative Days by End of September in Face of Tea Party Sabotage; GOP’s Tax Cut Promises Delayed into Next Year, so Bonanza Expected by Super-Rich Will Not Materialize, Threatening Panic; P/E Ratios Now Worse Than 2000 Dot Com Crash; GOP Senators Disregarding Trump; Flake Sees “Spasms of Dying Party” as Republican Future